Commercial mortgages, second mortgages and gites

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My husband and I are currently living in a house in the UK which is mortgaged. Our equity is about £200,000.My husband has a job in the south of France, and we were wondering what our options are regarding the house.If we convert the UK mortgage to buy to let, and rent out the UK house, will this affect the size of mortgage we can get in France? Will the rental income be counted (which should easily cover the mortgage), allowing us to get the same amount of mortgage as if we'd sold the UK house?I would like to run a gites business in France. If I bought an existing business, would I be able to get a commercial mortgage based on the previous years accounts of income from the gites?Are there any other issues about retaining a UK house? Will it affect our residency for tax purposes?

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Eleanor R-181992 1051877702

Hello!              The mortgage in the UK will affect the amount of mortgage that you can get in France due to the multiples which are used here.  You need to be aware that mortgages here work and are calculated in a completely different way to that in the UK.    Commercial mortgages for gites are not very easy to obtain.  If you would like a better idea of how much you can borrow and how it would work, please feel free to contact me on 06 15 16 10 04, I used to work for a British bank here in France for several years and now work independantly here.  Eleanor


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